Imperial Resources, Inc.; Green Tide Weekend Operations, Second
Disposal Pump to Go Online
AUSTIN, Texas, Oct. 24, 2012 /PRNewswire/ -- Imperial Resources,
Inc. (OTCQB: IPRC) and its wholly owned subsidiary, Imperial Oil
& Gas, Inc. (together the "Company", "Imperial") is pleased to
announce that weekend operations at its Green Tide Disposal
Facility ("Green Tide") have commenced to satisfy demand. The
Company also expects to repair and install the second main disposal
pump to increase downhole disposal rates.
In response to demand, Green Tide opened for weekend operations
for the first time on Saturday and Sunday October 20/21, 2012,
attracting levels of traffic in line with weekdays. Weekend
operations are planned to continue. To date, no major problems have
been encountered during commercial operations. Work is scheduled
over the coming weeks to bring the second offloading bay online to
keep customer waiting times to a minimum. Work is also planned to
complete the automation of the computer systems.
Demand for water disposal in the area is strong and the rapid
build of business at Green Tide demonstrates its position and
access is highly attractive to water haulers. Green Tide is already
attracting disposal business near to its current operational limit,
necessitating an increase in operational capacity.
To address this, the second main disposal pump damaged during
the lightning strike in October 2011
is expected to be repaired and reinstalled. Given the level of
demand for disposal a second pump is now required as a backup and
to increase downhole flow rates, as customer disposal rates into
the storage tanks have occasionally approached a level limited by
the current downhole pump capacity.
Pictures of Green Tide can be viewed at the photo gallery on the
Company's website at:
http://www.imperialresourcesinc.com/pages/projects?id=28.
The Oklahoma resource play and
Green Tide Water Disposal are two key projects identified as
transformational for Imperial.
About Imperial Resources, Inc.
Imperial Resources, Inc., through its wholly owned subsidiary,
Imperial Oil & Gas, Inc. has a highly focused, risk-averse
strategy of building a substantial portfolio of oil and gas assets
through its access to niche, low risk oil and gas opportunities in
the onshore U.S. Imperial aims to exploit projects which can
deliver cash flows normally associated with higher risk projects
but without exposure to high risk failure rates.
To find out more about Imperial Resources, Inc. (OTCQB: IPRC),
visit our website at www.imperialresourcesinc.com. Details of the
Company's business, finances, appointments and agreements can be
found as part of the Company's continuous public disclosure as a
reporting issuer under the Securities Exchange Act of 1934 filed
with the Securities and Exchange Commission's EDGAR database.
Forward-Looking Statements
Statements in this news release that are not statements of
historical fact are forward-looking statements, which are subject
to certain risks and uncertainties. Forward-looking
statements can often be identified by words such as "expects,"
"intends," "plans," "may," "could," "should," "anticipates",
"assumes", "likely," "believes" and words of similar import.
Forward-looking statements are based on current facts and analyses
and other information that are based on forecasts of future
results, estimates of amounts not yet determined and assumptions of
management. Actual results may differ materially from those
expressed or implied by forward-looking statements due to a variety
of factors that may or may not be foreseeable or within the
reasonable control of the Company. Readers are cautioned not
to place undue reliance on such forward-looking statements.
Additional information on risks and other factors that may affect
the business and financial results of the Company can be found in
filings of the Company with the U.S. Securities and Exchange
Commission, including without limitation under the caption "Risk
Factors" in the Company's Annual Report on Form 10-K filed on
July 16, 2012. Except as
otherwise required by law, the Company disclaims any obligations or
undertaking to publicly release any updates or revisions to any
forward-looking statement contained in this news release to reflect
any change in the Company's expectations with regard thereto or any
change in events, conditions or circumstances on which any such
statement is based.
Contact:
Rob Durbin, CEO
Telephone:
512 322-5740
http://www.imperialresourcesinc.com/pages/contact
SOURCE Imperial Resources, Inc.
